Good question.
In the previous games there was a folder called badges, in which you could add your custom badges.
I've had a quick look in the DOW2 folder and I can't seem to find a similar folder, so I would guess no.
But it may still be possible, just not as simple as the previous games. You might have to find and edit the badges file with some drawing programs or something else, similarly over my head.
Hopefully somebody will create a workaround or release some custom badges, once the game's been out for a few weeks...
EDIT: Also, the cynic in me is guessing it might be something that's protected in this game, so more badges can be released as DLC later.